DRSM: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DRSM
Largest movements
- Tangible fixed assets +€1.8m
up €1.8m (+105.3%), from €1.7m to €3.5m
of which Land and buildings: +€1.7m
- Current investments -€342,206
down €342,206 (-19.3%), from €1.8m to €1.4m
- Receivables after one year -€150,000
down €150,000 (-100.0%), from €150,000 to €0
- Receivables within one year -€106,598
down €106,598 (-55.6%), from €191,694 to €85,097
of which Other amounts receivable: -€150,675
- Other debts +€836,750
up €836,750 (+4569.6%), from €18,311 to €855,061
- Debts after one year +€184,407
up €184,407 (+14.8%), from €1.3m to €1.4m
- Reserves +€86,352
up €86,352 (+2.1%), from €4.1m to €4.2m
of which Distributable reserves: +€86,352
- Financial income +€214,088
up €214,088 (+1112.6%), from €19,242 to €233,330
- Depreciation +€30,820
up €30,820 (+203.6%), from €15,135 to €45,955
- Gross operating margin +€13,398
up €13,398 (+32.3%), from €41,477 to €54,875
- Other operating charges +€10,398
up €10,398 (+273.1%), from €3,808 to €14,206
- Taxes +€9,263
up €9,263 (+1002.5%), from €924 to €10,187
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,564,529 | €6,672,365 | +€1.1m | +19.9% |
| Fixed assets | 21/28 | €3,343,414 | €5,125,225 | +€1.8m | +53.3% |
| Tangible fixed assets | 22/27 | €1,692,032 | €3,473,843 | +€1.8m | +105.3% |
| Land and buildings | 22 | €1,341,223 | €3,079,453 | +€1.7m | +129.6% |
| Plant, machinery and equipment | 23 | €738 | €0 | -€738 | -100.0% |
| Furniture and vehicles | 24 | €180,460 | €276,902 | +€96,442 | +53.4% |
| Other tangible fixed assets | 26 | €169,612 | €117,488 | -€52,124 | -30.7% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €1,651,382 | €1,651,382 | = | 0.0% |
| Current assets | 29/58 | €2,221,116 | €1,547,140 | -€673,975 | -30.3% |
| Amounts receivable after more than one year | 29 | €150,000 | €0 | -€150,000 | -100.0% |
| Other amounts receivable | 291 | €150,000 | €0 | -€150,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €191,694 | €85,097 | -€106,598 | -55.6% |
| Trade receivables | 40 | €27,998 | €72,075 | +€44,077 | +157.4% |
| Other amounts receivable | 41 | €163,696 | €13,022 | -€150,675 | -92.0% |
| Current investments | 50/53 | €1,770,000 | €1,427,794 | -€342,206 | -19.3% |
| Cash at bank and in hand | 54/58 | €80,764 | €29,099 | -€51,665 | -64.0% |
| Deferred charges and accrued income | 490/1 | €28,658 | €5,151 | -€23,507 | -82.0% |
| Total equity and liabilities | 10/49 | €5,564,529 | €6,672,365 | +€1.1m | +19.9% |
| Equity | 10/15 | €4,227,955 | €4,314,306 | +€86,352 | +2.0% |
| Contributions | 10/11 | €143,000 | €143,000 | = | 0.0% |
| Reserves | 13 | €4,084,955 | €4,171,306 | +€86,352 | +2.1% |
| Tax-exempt reserves | 132 | €75,000 | €75,000 | = | 0.0% |
| Distributable reserves | 133 | €4,009,955 | €4,096,306 | +€86,352 | +2.2% |
| Amounts payable | 17/49 | €1,336,575 | €2,358,058 | +€1.0m | +76.4% |
| Amounts payable after more than one year | 17 | €1,250,000 | €1,434,407 | +€184,407 | +14.8% |
| Financial debts | 170/4 | €1,250,000 | €1,434,407 | +€184,407 | +14.8% |
| Amounts payable within one year | 42/48 | €86,575 | €923,652 | +€837,077 | +966.9% |
| Current portion of amounts payable after more than one year | 42 | - | €10,493 | +€10,493 | |
| Trade debts | 44 | €37,763 | €26,076 | -€11,687 | -30.9% |
| Suppliers | 440/4 | €37,763 | €26,076 | -€11,687 | -30.9% |
| Taxes, remuneration and social security | 45 | €30,500 | €32,022 | +€1,521 | +5.0% |
| Taxes | 450/3 | €30,500 | €32,022 | +€1,521 | +5.0% |
| Other amounts payable | 47/48 | €18,311 | €855,061 | +€836,750 | +4569.6% |
| Non-recurring operating income | 76A | €3,953 | €1,175 | -€2,778 | -70.3% |
| Remuneration, social security and pensions | 62 | - | €2,371 | +€2,371 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,135 | €45,955 | +€30,820 | +203.6% |
| Other operating charges | 640/8 | €3,808 | €14,206 | +€10,398 | +273.1% |
| Non-recurring operating charges | 66A | €4,926 | €111,451 | +€106,525 | +2162.4% |
| Gross operating margin | 9900 | €41,477 | €54,875 | +€13,398 | +32.3% |
| Operating profit (loss) | 9901 | €17,608 | -€119,108 | -€136,716 | |
| Financial income | 75/76B | €19,242 | €233,330 | +€214,088 | +1112.6% |
| Recurring financial income | 75 | €19,242 | €233,330 | +€214,088 | +1112.6% |
| Financial charges | 65/66B | €14,414 | €17,683 | +€3,269 | +22.7% |
| Recurring financial charges | 65 | €14,414 | €17,683 | +€3,269 | +22.7% |
| Profit (loss) for the period before taxes | 9903 | €22,436 | €96,539 | +€74,103 | +330.3% |
| Income taxes | 67/77 | €924 | €10,187 | +€9,263 | +1002.5% |
| Profit (loss) for the period | 9904 | €21,512 | €86,352 | +€64,840 | +301.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,512 | €86,352 | +€64,840 | +301.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.